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Top Connect CRE News

Modal and Centerbridge Partners Announce the U.K.'s Largest Industrial Outdoor Storage Portfolio Financing with Apollo
London, England · London

Modal and Centerbridge Partners Announce the U.K.'s Largest Industrial Outdoor Storage Portfolio Financing with Apollo

67% Center coverage: 9 sources
NEW YORK and LONDON, July 2, 2025 /PRNewswire/ -- Modal, a London-based investment and management firm specializing in Industrial Outdoor Storage ("IOS") assets, and Centerbridge Partners, L.P. ("Centerbridge"), a leading global private investment firm, today announced that Apollo-managed credit funds will provide senior financing to their U.K. IOS portfolio. The financing follows Modal's significant expansion over the past 12 months, establishi…See the Story
Brickell City Centre’s Retail Has a New Owner. Here Are 5 Takeaways
Miami, Florida · Miami

Brickell City Centre’s Retail Has a New Owner. Here Are 5 Takeaways

100% Left coverage: 1 sources
Miami’s Brickell City Centre sold to Simon Property Group for over $500M. The acquisition boosts Simon’s South Florida retail investments.See the Story
Facility In California City Expected To Be State's Largest Migrant Detention Center
San Diego · San Diego

Facility In California City Expected To Be State's Largest Migrant Detention Center

100% Left coverage: 1 sources
The facility closed in 2024 after California ended a lease to house state prisoners there.See the Story

Queen Anne Apartments Change Hands in Chapter 11 Bankruptcy Deal - Connect CRE

Seattle-based developer Vibrant Cities has lost control of Roystone, a newer 93-unit mixed-use building located at the base of Queen Anne Hill. The eight-story property at 5 W. Roy St. was transferred via a trustee’s deed in a Chapter 11 bankruptcy sale. The buyer’s address corresponds to Citymark Capital of Cleveland. The recorded sale price was $0, though the property is assessed at $27.1 million, reported the Puget Sound Business Journal. The…Seattle · SeattleSee the Story

Gaw Capital Acquires 52-Acre Bellefield Office Park in Bellevue - Connect CRE

Gaw Capital has acquired the 52-acre Bellefield Office Park in Bellevue through a deed-in-lieu of foreclosure. The Hong Kong-based private equity firm is also the owner of Seattle’s 76-story Columbia Center and the company purchased the low-rise office campus in a lender-driven sale initiated by Bank of America, reported the Puget Sound Business Journal. The 15-building, 550,000-square-foot campus sits just south of downtown Bellevue and was dev…Bellevue, Washington · BellevueSee the Story

Brixton Capital Acquires Retail Center from City of San Marcos

Brixton Capital has purchased the Civic Center Plaza from the City of San Marcos for an undisclosed price. The roughly 60,000 square-foot, four-building retail center is located in an affluent submarket of San Diego’s North County. Developed in 2007 in conjunction with the city, Civic Center Plaza is currently 97% occupied. It is located at 125-157 Twin Oaks Valley Rd. at the intersection with San Marcos Boulevard and proximate to Interstate 15 …San Marcos, California · San MarcosRead Article

3PL Carrier SpeedX Signs on for 165K SF at Linden Logistics Center

Advance Realty Investors and Greek Real Estate Partners (GREP) announced that 3PL carrier SpeedX has leased 165,000 square feet at 200 Linden Logistics Way, a 516,476-square-foot distribution facility located in Linden, NJ, within the 4.1-million-square-foot Class A Linden Logistics Center. SpeedX will occupy the facility as part of a planned $1-billion factory-to-front-door expansion that will see the company build out an end-to-end logistics h…Linden, New Jersey · LindenRead Article

Kennedy Funding Closes Loan for Resi Development on Maine’s South Coast

Direct private lender Kennedy Funding closed a $1.633-million loan to Abode Communities Kennebunk, LLC. Loan proceeds will be used to purchase 17 acres of undeveloped land at 274 Alewive Rd. in Kennebunk, ME, for $1.2 million. The property is contiguous to 70 acres of land the borrower already owns. The remaining funds will be put toward working capital. The borrower intends to develop 13 single-family homes on the property in conjunction with H…Maine, Maine · MaineRead Article

Snapchat Parent Leases Former 23andMe Offices in Sunnyvale

Snap Inc., the owner of multimedia messaging app Snapchat, is slated to fully occupy a 156,000-square-foot office building at 223 Mathilda Ave. in Sunnyvale that previously housed biotechnology company 23andMe, reported the Silicon Valley Business Journal. The lease agreement with landlord Spear Street Capital will take effect later this year, the Business Journal reported, citing CoStar News. Last month, Spear Street repurchased the property fr…Snapchat · SunnyvaleRead Article

Manhattan Office Leasing Scores Best H1 Performance Since Before Pandemic - Connect CRE

Second-quarter 2025 Manhattan office leasing volume contributed to the strongest first half of the year since before the pandemic, according to reports from JLL and Savills. JLL put the Q2 tally at six million square feet for a year-to-date total of 14.8 million square feet and the strongest first half since 2019, while Savills reported 8.8 million square feet in Q2 and 21.1 million square feet YTD for the strongest first half since 2014.  JLL r…Pandemic · New YorkRead Article

Chelmsford MOB Trades for $9M After Lease-Up Campaign

O’Brien Commercial Properties recently closed the sale of The Chelmsford Medical and Surgical Center, a 72,050-square-foot, two-story medical office building located at 321 Billerica Rd. in Chelmsford, MA. The property traded for $9,041,800 to Albany Road Real Estate Partners. Senior associate Rob McGarry led the brokerage team representing the seller, Vanderbilt Norwood LLC. “We partnered with the Vazza Real Estate Group to execute a successful…Chelmsford, Massachusetts · ChelmsfordRead Article

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